DUBLIN--(BUSINESS WIRE)--The "Global Grow Lights Market - Forecasts from 2018 to 2023" report has been added to ResearchAndMarkets.com's offering.
The global grow lights market is predicted to witness a compound annual growth rate of 10.79% during the forecast period to reach a total market size of US $6.109 billion by 2023, increasing from US $3.304 billion in 2017.
Rising adoption of vertical farming and indoor cultivation for the producing crops in many regions is driving the demand for indoor lighting solutions. Reduction in global arable land area and legitimize cannabis plantation will further push the demand for grow lights, thus augmenting their market growth.
However, high cost of energy efficient and quality grow lights is restraining the market growth to some extent. Furthermore, lack of standard solutions for various crops will further hinder the growth of grow light market over the forecast period.
Major industry players profiled as part of the report are Philips Lighting Holding B.V., General Electric Company, OSRAM Opto Semiconductors GmbH, Gavita International B.V., and LumiGrow Inc. among others.
- This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments.
- Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market.
- The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions.
- Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Key Topics Covered
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Global Grow Lights Market Forecast by Type
6. Global Grow Lights Market Forecast by Application
7. Global Grow Lights Market Forecast by Geography
8. Competitive Intelligence
9. Company Profiles
- Philips Lighting Holding B.V.
- General Electric Company
- OSRAM Opto Semiconductors GmbH
- Gavita International B.V.
- LumiGrow Inc.
- Heliospectra AB
- Illumitex Inc.
- Sunlight Supply Inc.
- Hortilux Schreder
For more information about this report visit https://www.researchandmarkets.com/research/dx6t7j/global_grow?w=4